Goodwell Investments injects $2M into Kenya-based Copia Global

    E-Commerce
    Funding

Goodwell investments, an impact investment and advisory firm focused on financial inclusion and sustainable development, has made a $2 million investment into Kenya-based Copia Global. "Goodwell Investments has acquired a share in Copia," the firm wrote.

It described Copia Global as "promising ecommerce business that specialises in supplying products and services to currently underserved consumers in rural Kenya".

Copia supplies products and services to “Base of the Pyramid” (BoP) consumers. Through a combination of technology, local agents, efficient delivery strategies, a broad and affordable product offering, and reliable services, Copia enables households to access goods that would otherwise be difficult to obtain without travelling to a major city. Pre-paid orders take on average only two to three days to be fulfilled.

According to the Copia's website, it was "founded in 2012 by Silicon Valley veterans, Tracey Turner and Jonathan Lewis", though the press release points out that they "launched in 2013 with 20 agents".

"It has shown dramatic growth over the past few years and now works with over 3,000 agents, counts some 40,000 customers, and executes over 80,000 orders a month," wrote Goodwell Investments.

"Looking further ahead, Copia’s total addressable market could comprise several emerging markets in sub-Saharan Africa, Latin America and Asia as well that represent a potential purchasing power of over $5 trillion a year."

To-date, the company has raised at least $6 million in total investment across four different funding rounds. Some of their notable investors include DOB Equity, Savannah Fund as well as LGT Impact.

Goodwell Investments, based in the Netherlands, is among the most prominent impact investors across the continent with at least 14 companies under their portfolio. Last year, they raised a $23 million sub-Saharan dedicated fund called Goodwell IV.

This year, so far, Goodwell Investments has seen two of its portfolio companies - MFS Africa and WhereIsMyTransport - raised funding amounting to $2.5M and $1.85M respectively. The impact investor participated in the latter's Series A that it will use to expand to India and Latin America. Other notable portfolio companies include Nigeria's Paga and Lidya as well as South Africa's Nomanini and

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